GLOBAL MARKETS-Asia Stocks Turn Cautious as Reality Intrudes in Gulf

ASIAN MARKET - SYDNEY. Asian share markets were in a more sober mood on Thursday as cracks quickly began to appear in the fragile Gulf ceasefire, nudging oil prices back up and reminding investors the inflationary fallout will last for a long time yet.

There was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.